Next Generation Partners

Rising Stars

Banking, finance and capital markets in Iceland


BBA//Fjeldco covers all areas of banking and finance, with a strong reputation for handling complex financings, including those involving multijurisdictional elements. The group contains a number of lawyers qualified in England and Wales in addition to Iceland, facilitating sophisticated guidance on cross-border matters. Bjarki Diego covers a broad range of M&A, capital markets, and finance deals, and co-leads the department alongside managing partner Halldór Karl Halldórsson, whose areas of expertise include corporate financings and investments, securities issues, competition law, and bankruptcy and restructuring work. Also key are highly experienced founding partner Ásgeir Ragnarsson, who advises prestige international clients on a spectrum of corporate and commercial matters, and Gunnar Thor Thorarinsson, who leads the London office. Stefán Reykjalín, who made partner in early 2023, is also a key name to note.

Practice head(s):

Bjarki Diego; Halldór Karl Halldórsson

Other key lawyers:

Ásgeir Ragnarsson; Gunnar Thor Thorarinsson; Stefán Reykjalín


‘Strong technical capabilities and experience in working in capital markets, both locally in Iceland and internationally, makes this firm’s capabilities unique.’

‘Bjarki Diego has vast experience in financing transactions, banking, equities and bonds – which is very valuable to the client.’

‘BBA//Fjeldco have a very solid team and vast experience when it comes to banking and finance in particular. They are generally involved in almost all major transactions in Iceland for a good reason: Their signature quick, no frills advice, which is always well grounded and professional.’

‘The partners strive to get to know their clients and their business which results in a more proactive client relationship and tailor made advice which stands the test of time.’

‘Halldór Karl Halldórsson is extremely pleasant to work with, very knowledgeable in the field of finance and true to his word when it comes to deadlines. One of his most valuable fortes in complex deals is his ability to reach out to our counterparties and their counsel in a cooperative and solution-based manner, while still being adversarial and protective of our interests.’

‘Gunnar Thor Thorarinsson has proven to be one of a kind when it comes to cross-border deals involving LMA documentation, with vast knowledge of Icelandic transactional documentation and deal mechanics.’

Key clients

Kvika bank


Arion Bank

Arctic Green Energy

Lykill fjármögnun


Rapyd Europe


DNB Bank


Danske Bank

Strengur Holding

DC Advisory


RPC Group



Barclays Bank

JP Morgan


Japan Bank


Work highlights

  • Advised international biopharmaceuticals company Alvotech, as well as its subsidiaries, with respect to the dual listing on Nasdaq Stock Market LLC and Nasdaq First Growth Market in Iceland, as well as with respect to a private investment in public entity (PIPE), prior to the listing, in particular from Icelandic PIPE investors.
  • Advised on the financing of the acquisition of Ardian, by the telecomms operator, Míla ehf. The advice included negotiating the LMA loan documentation, bond issuance documentation, intercreditor agreement and security documentation.
  • Advised on the financing of Sabre Corporation, a travel technology company based in Southlake, Texas.

Lex Law Offices

Lex Law Offices fields a seasoned team of experts, with decades of experience advising banks, financial institutions, and a range of other prominent market participants. The department has notable strength in ESG matters, and during 2023 advised investment banking company Natixis on a $100m senior secured green term loan financing to Verne Global. Department head Ólafur Haraldsson has expertise in loan and security agreements, corporate financings, and restructurings. Other core team members include Supreme Court Attorney Guðmundur Ingvi Sigurðsson, whose primary strengths are in corporate finance and debt restructuring work, and capital markets specialist Stefán Orri Ólafsson. Eva Margrét Ævarsdóttir, who made partner in January 2023, is a leading name for green and sustainable lending.

Practice head(s):

Ólafur Haraldsson

Other key lawyers:

Guðmundur Ingvi Sigurðsson; Stefán Orri Ólafsson; Fanney Frímannsdóttir; Eva Margrét Ævarsdóttir


‘The team I had was outstanding. Caring and fighting for my interests. Made the legal jargon simple for a novice to understand, and taught me a lot.’

‘They are on top of things, they were aggressive enough to remind the legal counsel of my investors to know their place and made me never feel alone.’

‘Leaders in Icelandic jurisdiction in a wide range of settings. Very pragmatic and commercial. Can find solutions to unusual problems.’

‘Lex is a leading firm in Iceland with excellent and experienced attorneys. Stefán Orri Ólafsson is the authority on securities law in Iceland.’

‘Stefán Orri Ólafsson is highly skilled and experienced in capital markets and banking law.’

Key clients



Stefnir hf.


Landsbréf hf.

Kvika Asset Management

atNorth Holding AB

Treble Technologies

Alfa Framtak hf.

Apax Partners LLP


Centerbridge Partner Europe LLP

Vitar games ehf.

Arion banki

Work highlights

  • Representing the creditors of Kaldalón hf., an Icelandic listed real estate company, with regards to the security agency structure. The security agency related to a ISK30bn base prospectus and separate bank loans up to ISK10bn.
  • Acting as the lead legal counsel to Apax Partners which is financing the growth of the Icelandic company Controlant hf. by lending it $40m.
  • Advising Natixis on the Icelandic aspects of a senior secured green term loan financing to Verne Global hf., which is a leading data centre platform in Iceland wholly powered by renewable energy.


LOGOS's full-service team draws in a prestige client list which includes major international names such as Deutsche Bank, Goldman Sachs, and Morgan Stanley. The group is recognised for its strength in capital markets work and comprehensive regulatory assistance, and has recently made substantial efforts to develop its banking and finance offering into a major force. Óttar Pálsson has significant expertise in capital markets, including both contentious and non-contentious matters, and co-leads the department alongside Thórólfur Jónsson, who covers securities regulation advice, corporate funding matters, and financial restructurings. Benedikt Egill Árnason specialises in transactions, and acts for a number of prominent corporate clients and private equity houses, while Guðbjörg Helga Hjartardóttir is noted for her expertise in financial restructurings and corporate finance mandates.

Practice head(s):

Óttar Pálsson; Thórólfur Jónsson

Other key lawyers:

Benedikt Egill Árnason; Guðbjörg Helga Hjartardóttir; Freyr Snæbjörnsson


‘I am impressed by the level of project complexity the team can easily handle from different perspectives, and the high quality of process organisation.’

‘I am sure they are number one in the Icelandic legal arena.’

‘Benedikt Egill Árnason stands out. What I really appreciate about Benedikt is his readiness to have your back, and not think for you, but definitely think along with you, accessing all blind spots that you are probably missing.’

‘I have mostly been in contact with Freyr Snæbjörnsson, who I have found to be very trustworthy, accessible, and eager to work with us to find solutions that fit our company.’

‘Óttar Pálsson is a veteran when it comes to banking and finance in Iceland. As a former banker, well respected litigator and one of the most prominent deal lawyers in Iceland, he just has a certain presence. His sharp mind and experience give him and his clients advantages in meetings.’

‘Proactive approach, rather than reactive, have shown initiative regarding new law and regulations regarding financial companies by offering assistance to companies such as ours to adapt to changes in our regulatory environment.’

‘Freyr Snæbjörnsson is very accessible, has vast knowledge and experience and is an authority in certain fields of capital markets regulation (mutual funds, security brokerage, MiFID related issues).’

Key clients

Arion Bank hf.


Kaupthing hf.

Goldman Sachs International

Deutsche Bank

Fossar Investment Bank

Alfa Framtak ehf.

Crowberry Capital GP ehf.

Marel hf.

Landsnet hf.




Novator Partners LLP

Verne Global Data Centres

Origo hf.

New Business Venture Fund

Kerecis hf.

Vordur Insurance

Ministry of Industry and Innovation

Frumtak Ventures ehf.

Eyrir Ventures

DTE ehf.

Morgan Stanley

Laxar eignarhaldsfelag ehf.

Laxar Fiskeldi ehf.

Icelandic State Financial Investments

Nordural Grundartangi ehf.

Archer Norge AS

Sidekick Health AB

Islensk verdbref hf.

Work highlights

  • Advised Islandsbanki hf. on its merger discussions with Kvika banki hf.
  • Advised Brim hf. on its completion of a €220m syndicated loan facility provided by three leading international banks, servicing both the European and global fisheries sector.
  • Representing Icelandic Pension Funds in its debate against the Government of Iceland regarding the Finance Ministers plans to have the Parliament pass a legislation which would allow the bankruptcy of IL-sjodur.

ADVEL Attorneys at Law

ADVEL Attorneys at Law advises a number of prominent domestic banking clients, as well as foreign financial institutions with interests in Iceland. The highly experienced team covers a range of areas, including corporate financings, restructurings and reorganisations, and regulatory matters. Team lead Stefan Þór Ingimarsson has expertise in refinancings and reorganisations, while Dóra Sif Tynes is a key name for EEA and EU law, and Ragnar Guðmundsson has strength in tax law and corporate financings.

Practice head(s):

Stefan Þór Ingimarsson

Other key lawyers:

Ragnar Guðmundsson; Dóra Sif Tynes; Bjarni Þór Bjarnason


‘Stefán Þór Ingimarsson – great insight and willing to assist his customers.’

‘Great knowledge of the practice. The team members work in perfect coordination, without overlapping.’

‘Communication skills, efficiency, and professionalism.’

Key clients

Arion bank


Advania Group

Klappir Green Soulutions





Work highlights

  • Advising Arion Bank on its EMTN programme.
  • Advising Arion Bank on its Covered Bond programme.


Juris fields a team with core strength in transactions, regulatory issues, and project finance work. The group includes practitioners experienced working both domestically and overseas, and covers a diverse range of sectors including the fishing, energy, hospitality and infrastructure industries. Jointly leading the team are Halldór Jónsson, noted for his tax expertise; Sigurbjörn Magnússon, whose practice includes competition law and contentious matters; and Andri Árnason, who is a specialist in financial litigation. Simon Knight is a key name for project finance and syndicated lending work, while associate Hildur Þórarinsdóttir advises on financial regulatory matters, and previously worked as in-house counsel at Arion Bank.

Practice head(s):

Halldór Jónsson; Andri Árnason; Sigurbjörn Magnússon

Other key lawyers:

Simon Knight; Vífill Harðarson; Stefán A. Svensson; Ingvar Ásmundsson; Hildur Þórarinsdóttir


‘The team at JURIS has been active for many years providing legal advice to the fishing industry, and that is something the makes them extremely qualified.’

‘The individuals at JURIS provide practical legal advice. They have considerable experience and are therefore very pragmatic when providing legal advice.’

‘Highly recommended. Responsive, clever and punctual.’

‘Stefán A. Svensson and Simon Knight are both excellent.’

Key clients

Summa Rekstrarfélag hf.

Kvika banki

Landsbankinn hf.

GAMMA Capital Management hf.

Ísfélag hf.

Reginn hf.

BRP Bizzozero and Partners SA

Rarik ohf.

Work highlights

  • Representing Landsbankinn hf. in cases regarding the legality of variable interest rates in consumer mortgages.
  • Advised Kvika banki on the development of its payments business, Straumur Greiðslumiðlun.
  • Advised Rarik ohf. on its €20m loan from NIB to finance the replacement of overhead electricity lines.


Lagahvoll fields a highly experienced team, with a strong record in financing, investment, and regulatory matters, in addition to coverage of contentious issues. Founding partner Daði Bjarnason has a broad practice, which includes financing, corporate restructuring, and private equity transactions; Bjarnason co-leads the department alongside senior partner Jóhann Sigurðsson, who is described by clients as ‘excellent in every aspect of his work’.

Practice head(s):

Daði Bjarnason; Jóhann Sigurðsson


‘Clients give them high appraisals for their knowledge and expertise, commitment to their clients’ needs, as well as being quick to resolve complex matters.’

‘I have had experience with both Jóhann Sigurðsson and Daði Bjarnason. They are both very experienced in their field and good to work with. Being a small boutique firm, they both go all in when needed and give their clients a personal service they appreciate.’

‘They are really quick to respond to urgent matters and always find time to give us good advice.’

‘Jóhann Sigurðsson is excellent in every aspect of his work.’

Key clients

Dohop ehf.

Data Lab Ísland ehf.

Félagsbústaðir hf.

Carbon Iceland ehf.

Traveo ehf.

Vistbyggð ehf

Félag eldri borgara í Reykjavík og nágrenni

Pikkoló ehf.

Ísorka ehf.

Reon ehf.

Fagkaup ehf.

Landslog – Law Offices

Landslog – Law Offices is a popular choice for leading domestic banks and corporations, and is noted for its strength in bond issuances; during 2023, the team advised Isavia on a €175m private note placement in the US. Jóhannes Karl Sveinsson, Jóhannes Bjarni Björnsson and Viðar Lúðvíksson co-lead the department.

Practice head(s):

Jóhannes Karl Sveinsson; Jóhannes Bjarni Björnsson; Viðar Lúðvíksson

Key clients


Hagar hf.

Syn hf./ Vodafone Iceland

Central Bank of Iceland



Arctic Fish

The Icelandic Housing and Construction Fund


Lifsverk Pension Fund

Work highlights

  • Advised Isavia (The Icelandic Airport and Air Traffic Management) on a private note placement (issue and sale of notes) in the US to the amount of €175m.
  • Provided legal counsel to the Arctic Fish group during an initial refinancing and both amendments. The lenders are the Arion Bank hf. and the Norwegian bank DNB Bank ASA.
  • Advised e-sports club Dusty on finalising a share capital increase.